Bonnisseau, Jean-Marc; Chery, Achis - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2014
In a stochastic financial exchange economy, two financial structures are equivalent if, for each given state price … financial structures is that, when associated with any standard exchange economy, they lead to the same financial equilibrium …. We exhibit a sufficient condition for the equivalence of two financial structures with possibly long-term assets. We then …